Not really having the total of capital…Michael Saylor Bitcoin Drop… so with anything that you’re learning more about please do study the platform do not just assume due to the fact that i use it that you can use it right now do some due diligence have a little experiment with it even invest with virtual money they give that choice as well so you really get utilized to the structure of the site and then when you’re ready to utilize your own cash to invest you can do so now i will disclaim obviously your capital is at danger this is investing we’re doing you’re purchasing real companies if you choose to in this particular video we’re discussing how to copy other individuals’s investments with your cash so obviously your capital is at risk and we have to bear that in mind do not simply do something because that person has said they’ve made profit 14 months in a row invest in these options due to the fact that you believe is the right ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is understanding what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.
famous for it’s the alternative to see what other traders are doing amazing we don’t usually get that insight from a great deal of platforms and the other advantage is these copy portfolios are copy trading and so that suggests with our cash we can in fact state i want to do exactly what that trader is doing or match that specific portfolio of choices and generally whenever they make a trade they buy they sell whatever they do your money will be imitated with it so that suggests if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your cash in so we’re going to likewise cover is the charges involved truly crucial you understand what are the costs of this now with any platform there will be some expense to certainly these are real companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even some of the absolutely no cost sites then might not charge you for really buying and selling funds or etfs individual commodities specific stocks.
there’ll be fees on other parts perhaps it’s our fx rate when you’re changing from uk to u.s dollars there’s all type of charges associated so do your due diligence and i’m going to show you the costs with in particular in this video the next would be things to know prior to you actually begin purchasing copy trading or copy portfolios and lastly some best suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s begin with costs actually crucial to understand these now on there’s a couple of charges there isn’t costs to do with in fact buying and selling okay so commission charges are complimentary nevertheless there are a number of other fees the first one is withdrawal charges so you can obviously put cash in now if you remain in the uk we put our uk money.
and it’s instantly converted into us dollars and i’ll cover a little point about that later on but when you wish to withdraw your money so you sell your shares you offer your commodities whatever you’re offering the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to make sure that i’m only withdrawing when i absolutely need to now you may state alright that’s quite costly and i get that but it’s all to do with how they run their platform they have to charge fees somewhere and withdrawal costs are simply one of those options that they have a lot of platforms obviously are totally free to do such things has this five dollar charge so in my eyes make your withdrawals largely it can be perhaps even once a year once every six months you know depends totally how you’re investing but that is a cost to keep in mind the second cost that i’ve discussed is that conversion fee now with you’re handling us dollars just there’s not a choice to buy in euros or uk which’s fine that matches me.
a lot of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m excellent with that we have what’s called the fx currency conversion cost now when you use anybody so if you’re using trading 2 and 2 open market anybody this is basic they have i expect stuck to whatever fee they charge for that conversion rate you kind of have to accept you understand if you want to use their platform go from uk to us then that conversion charge exists what are they actually giving you in terms of your uk pounds to us dollars and all platforms are the same you can’t haggle with them you can’t go to the bank and state offer me us dollars instead you have to pay their charges now the great thing about however when you have actually converted your money you do not need to invest it right now that dollar value can sit in your portfolio as cash dollars for as long as you like so that means the preliminary day that you buy or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any extra fees so that’s really good utilizing that part of their website will not certainly limit you in any way nevertheless we need to understand 2 other fees the first being what’s called spread charges okay and i’m going to show you what i mean on now a spread charge as i’m going to show you Michael Saylor Bitcoin Drop.
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